Avanza Fonder AB Takes Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Avanza Fonder AB acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,200 shares of the company’s stock, valued at approximately $145,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after buying an additional 436 shares during the period. Mendota Financial Group LLC boosted its holdings in Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after acquiring an additional 965 shares during the period. CWM LLC grew its position in Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after acquiring an additional 775 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Harmony Biosciences during the third quarter worth about $74,000. Finally, Quarry LP purchased a new position in shares of Harmony Biosciences in the second quarter valued at approximately $62,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.80% of the company’s stock.

Wall Street Analysts Forecast Growth

HRMY has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a report on Monday, January 13th. Raymond James reiterated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Oppenheimer restated an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Cantor Fitzgerald lifted their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of Harmony Biosciences in a research note on Thursday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $55.00.

Harmony Biosciences Stock Up 1.3 %

HRMY stock opened at $39.05 on Monday. The company’s 50 day moving average is $34.39 and its two-hundred day moving average is $34.90. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve month high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.23 billion, a P/E ratio of 18.51, a PEG ratio of 0.49 and a beta of 0.78.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. The firm had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. Research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.42 earnings per share for the current fiscal year.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.